(1) I am guessing, but it seems to me that we are a lot closer to defining events than before, when anyone can put anyone else on some watch list that now has 200,000+ names already, and while not have a/c confiscated outright but frozen, which is just as bad, practically speaking. One could easily end up in a situation where one cannot fly and cannot withdraw funds. Nasty.
(2) Having seen capital control in action by second hand (colleagues and friends) in France and Malaysia, and having heard about the happenings in Argentina and such places, the US is heading that way in a hurry, by helicopters.
(3) I can see the possibility of USA admin demanding a withholding tax on offshore investor account sales of US equity/bonds, before applying such measures to the domestics.
(4) The largest bankruptcies, past and current, and so probably the future, involve US companies of one sort or another, and as the economy is 50% finance based, it is only a question of time when events get interesting again.
Why take a chance when one does not have to? What is it worth? Why put trust in politicians who think it a good idea to raise tariffs and think it a good idea and engage in endless wars on a whim?
Politic and religion mixes badly; stupidity and power mixes worse; and when all four is blended, it is toxic, especially to wealth and reason.
Recommendation: accumulate physical gold. |
